2024 Market Outlook
21st Feb. 2024 @ 10am
Hosted by the Toronto Real estate Board
Mississauga Convention Center
Attended by FH Keystone
Facts & Insight:
What is affordable housing?
In Canada, housing is considered “affordable” if it costs less than 30% of a household’s before-tax income. Many people think the term “affordable housing” refers only to rental housing that is subsidized by the government.
31% of the purchase price of every new home built in Ontario includes govt.-imposed fees, charges + taxes.
The inflation rate hoovering just below 3% (2.9%) has indicated a likelihood of changes towards the interest rates starting the 2nd half of 2024.
42% chance that the BoC has cut rates 25 Bps by June 2024
78% chance that the BoC has cut rates 100 Bps by December 2024
94% chance that the BoC has cut rates 125 Bps by March 2025
2 big decision factors when people are considering moving, adjusting expectations.
LOCATION + PRICE
Top 5 reason why people will list their home!
- I want to move to a bigger home -23%
- I want to make money/profit – 22%
- Buying another home – 21%
- I want to move to a different city/neighbourhood/province – 18%
- My life family is changing – 18%
Please email us at info@fhkeystone.ca for a copy of the full report or book a complimentary consult with us.
Written by:
Tanya Fernandes
Broker | Owner
